Bergen, 16 May 2024: Scana (the Company) has delivered a quarter with historic
high revenues and EBITDA.

The Energy division is accelerating growth, with its highest revenue level so
far, driven by energy storage solutions and e-house modules. The order intake is
stable and there is a strong project pipeline expected to be concluded the next
quarters. The Offshore division has strong growth driven by the sale of well
control preparedness equipment. A strong order intake in Offshore is driven by
strategic win of a 10-year contract for operation and maintenance of coastal
base properties included in backlog with NOK 134 million. 

Scana will from Q1 2024 go from three to two divisions: Offshore & Energy. The
change is driven by enhancing efficiency, and focusing on core areas, with
Offshore and Energy directly supporting primary business segments. The previous
Maritime division is now part of the Offshore division. 

The Company's financial position is strong, giving possibilities for growth
investments.

1Q 2024 Financial Highlights

·	Revenue NOK 541 million
·	EBITDA NOK 97 million
·	EBITDA margin 17.9 %
·	Order intake NOK 553 million 
·	Order backlog NOK 1,138 million

"In this quarter we have signed several strategic contracts within our Energy
and Offshore division. With the newly announced acquisition of Mongstad
Industrier AS, we show our ability to identify and execute value-creating
transactions within Scana's business areas and our strong belief in increased
activity in the Mongstad and Fensfjord basin," says Pål Selvik, CEO of Scana. 

"After this quarter's close, several contracts have been signed. PSW Power &
Automation has signed a substantial contract for the delivery of a series of
E-house modules and Seasystems a substantial contract for the delivery of a
turret structural connector system for a FPSO. In addition, we announced in our
Q1 video that PSW Power & Automation is entering the electricity balancing
market. This will make us able to generate both short-term and long-term revenue
streams from our battery storage connected to the power grid," concludes Selvik.



Today, at 10:00 CET, Scana will hold a brief presentation of the results,
followed by a live Q&A session with Pål Selvik, CEO, and Torvald Ulland
Reiestad, CFO, representing Scana. The session is hosted by SpareBank 1 Markets.

To participate, visit the following URL: https://bit.ly/SCANA1Q24. 

Questions can be submitted during the live webcast. The presentation will be
available for replay shortly afterward on Scana's website, www.scana.no.

Visit Scana's website to find our Q1 video:
https://scana.no/news/first-quarter-results-2024/

The video provides insights into our operations at Mongstad and the Fensfjord
basin, and offers information about PSW Power & Automation entering the
electricity balancing market.


For more information, please contact: 
Pål Selvik, CEO, +47 97 04 65 02 
Torvald Ulland Reiestad, CFO, +47 97 98 78 95 
Anette Netteland Dybvik, Head of IR and Communication, +47 41 66 77 87


Scana in brief 
Scana is a listed industrial owner company in the ocean and energy industries
creating value through active ownership in market-leading portfolio companies.
Scana is headquartered in Bergen and has above 500 employees. www.scana.no